Ethereum Nears $250

ETH looking bullish

Ethereum has risen above $240 once again, and it is fairly close to overtaking $250, rising by about 10% since Sunday.

The currency was close to overtaking $300 before the lockdown March, with it generally recovering since, but not quite fully.

That $300 of course is the big line, and in this case because of a meme it may instead be $324.

It hasn’t quite risen above it since it overtook it in 2017, with that $300 line not touched at all this year and only very briefly in 2019.

If we take away the crypto volatility, then the above chart looks more like a year and a half of sideways with no real direction except maybe since the March bottom.

Whether it will continue to follow that upwards trajectory of course remains to be seen in the coming weeks and months but sentiment seems to be somewhat changing in eth.

The many new tokens and projects, in defi but also things like Chainlink, have created a somewhat bullish atmosphere in some corners.

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When I came up with Ethereum, my first first thought was, 'Okay, this thing is too good to be true.' As it turned out, the core Ethereum idea was good - fundamentally, completely sound